Informatica Inc. (NYSE:INFA) Shares Purchased by State Street Corp

State Street Corp boosted its holdings in Informatica Inc. (NYSE:INFA - Free Report) by 25.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,051,013 shares of the technology company's stock after purchasing an additional 210,843 shares during the period. State Street Corp owned about 0.35% of Informatica worth $26,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of INFA. Quarry LP bought a new stake in shares of Informatica in the 3rd quarter worth about $38,000. Summit Securities Group LLC acquired a new position in Informatica in the second quarter worth about $46,000. Amalgamated Bank increased its holdings in Informatica by 42.1% in the second quarter. Amalgamated Bank now owns 3,498 shares of the technology company's stock valued at $108,000 after buying an additional 1,037 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in Informatica during the third quarter valued at approximately $149,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Informatica by 11.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company's stock worth $201,000 after buying an additional 810 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity at Informatica

In other news, CAO Mark Pellowski sold 10,026 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total value of $268,295.76. Following the completion of the sale, the chief accounting officer now directly owns 142,671 shares of the company's stock, valued at approximately $3,817,875.96. This represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Arthur Schweitzer sold 10,734 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $27.05, for a total transaction of $290,354.70. Following the completion of the transaction, the executive vice president now owns 353,778 shares of the company's stock, valued at $9,569,694.90. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,296 shares of company stock worth $1,057,684 in the last three months. 48.10% of the stock is owned by company insiders.

Informatica Stock Performance

Shares of NYSE:INFA traded down $0.26 during trading hours on Monday, hitting $26.60. The stock had a trading volume of 1,351,679 shares, compared to its average volume of 1,789,542. The stock's fifty day simple moving average is $26.36 and its 200 day simple moving average is $26.24. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 126.67, a PEG ratio of 5.68 and a beta of 1.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.17 and a current ratio of 2.17. Informatica Inc. has a 1-year low of $22.08 and a 1-year high of $39.80.

Informatica announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on INFA shares. Truist Financial assumed coverage on Informatica in a report on Thursday, December 12th. They issued a "buy" rating and a $34.00 price target for the company. UBS Group lifted their price objective on shares of Informatica from $27.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of Informatica from $38.00 to $34.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Finally, Guggenheim restated a "buy" rating on shares of Informatica in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Informatica has an average rating of "Moderate Buy" and an average price target of $33.27.

Informatica Profile

Informatica Inc develops an artificial intelligence-powered platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at enterprise scale worldwide. Its platform includes a suite of interoperable data management products, including data integration products to ingest, transform, and integrate data; API and application integration products that enable users to create and manage APIs and integration processes for app-to-app synchronization, business process orchestration, B2B partner management, application development, and API management; data quality and observability products to profile, cleanse, standardize, observe, and monitor data to deliver accurate, complete, and consistent data; and master data management products to create an authoritative single source of truth of business-critical data.